🔴OP Sinks Amid Massive Token Unlock

GM Defiers!

We start by looking at this week's major token unlocks, led by Optimism. Curve Finance's new stablecoin, crvUSD, is holding its peg remarkably well, outperforming other decentralized stablecoins during their equivalent first month. Meanwhile, the overall crypto market is gaining momentum with Ether and Bitcoin reaching three-week highs, thanks to the progress in U.S. debt ceiling negotiations. A potential game-changer is on the horizon for DeFi interest rates as MakerDAO considers boosting the Dai Savings Rate to 3.3%.

✍️ In today’s newsletter:

• Optimism team and investors unlock 9% of token supply
• Curve's new stablecoin maintains tight peg
• Markets rally on debt ceiling deal
• MakerDAO mulls increase to DAI Savings Rate